The Araguaia Project is a nickel laterite project located in the Araguaia Fold Belt in the northern state of Para in Brazil. The project is the amalgamation of adjacent grassroots discoveries by Horizonte Minerals Plc (HM), Teck Resources and Lara Exploration Limited/Falconbridge Limited (Xstrata). It is now 100% owned by Horizonte Minerals (HM). Wood Mackenzie’s asset reports are built from the bottom up, incorporating a number of granular data metrics to ultimately produce our industry standard cash operating costs. This report contains a detailed asset note giving you a holistic view of the asset, including an operational overview through to a timeline of events from inception to now. This qualitative analysis is supplemented by the associated Excel download which enables interrogation of a whole series of cost and production metrics over the life of the asset.